A monopolistically competitive firm and a perfectly competitive firm are alike because both types of firms
I. face downward sloping demand curves.
II. have marginal revenue curves that lie beneath their demand curves.
III. can make only zero economic profit in the long run.
A) I and II
B) I and III
C) III only
D) I only
C
Economics
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WTO is the acronym for:
a. the World Traffic Organization. b. the World Trade Organization. c. the World Tariff Organization. d. the World Tax Organization.
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The FOMC carries out its policies through directives to the bond-trading desk at the:
a. Federal Reserve Bank of Dallas. b. Chicago Fed. c. Federal Reserve of Philadelphia. d. Los Angeles Fed. e. Federal Reserve Bank of New York.
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